Sibanye-Stillwater lands R5.5bn local refi

gold bar
By Mariam Meskin
29 Oct 2019

South African gold producer Sibanye-Stillwater has refinanced an existing local currency revolving credit facility, demonstrating lender confidence in the country's borrowers despite the threat of an impending rating downgrade.

The existing R6bn ($409.8m) loan was set to mature on 15 November. That deal has now been refinanced to a three year R5.5bn revolving credit facility, which includes both volume and tenor extension options. 

The deal features a R2bn accordion, allowing the borrower to increase the facility up to ...

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